The post Hashdex Submits SEC Filing for First Ever US Spot Bitcoin and Ethereum ETF appeared on BitcoinEthereumNews.com.

Hashdex has applied to the SEC to launch the first ETF in the U.S. directly containing spot Bitcoin and Ethereum. This initiative represents a significant step for the crypto asset management firm in integrating mainstream financial markets with digital assets. The ETF, named Hashdex Nasdaq Crypto Index US ETF, could potentially include other cryptocurrencies over time as regulations allow. This article explores Hashdex’s groundbreaking move to introduce a U.S.-based ETF with direct exposure to spot Bitcoin and Ethereum, discussing the potential implications and future prospects for the crypto market. Hashdex Seeks SEC Approval for Pioneering Crypto ETF In a noteworthy development within the financial sphere, Hashdex has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) to propose the launch of the Hashdex Nasdaq Crypto Index US ETF. This fund is anticipated to be the first of its kind in the United States, offering investors direct exposure to spot Bitcoin and Ethereum. Details of the ETF and Potential Market Impact Initially, the fund will hold Bitcoin and Ethereum, the two leading cryptocurrencies by market capitalization. Over time, depending on regulatory advancements, the fund may expand to include other digital assets, maintaining the same proportional representation of Bitcoin and Ethereum through a “sampling” strategy. This approach offers a balanced risk exposure while addressing regulatory constraints. Industry and Regulatory Landscape The introduction of this ETF signifies a notable advancement for the crypto market, particularly in the U.S., where regulatory scrutiny has been intense. If the SEC approves Hashdex’s application, the ETF will be listed on Nasdaq with custodial services provided by Coinbase and BitGo, ensuring secure storage of the fund’s assets. This development comes on the heels of several firms receiving approval for their ETF listings, highlighting a growing acceptance of cryptocurrency-related financial products. Historical Context and Previous Withdrawals…

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Filed under: News - @ July 25, 2024 1:10 pm